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We identify the free trade and the autarky equilibrium as polar cases.
Macroeconomic Findings: Financial Autarky versus Financial Integration
In this situation, which we label "autarky," the agent's optimal consumption and savings decisions depend on his accumulated assets and are contingent on the output realization.
In this Policy Brief we argue that the economic development of emerging economies still requires a type of industrialization that can deliver high-quality employment, that is aligned with the international division of labour, and that would not lead to autarky, or a reversal of global gains in establishing openness in trade.
They have remained in an autarky cycle of consumption driven development where consumption leads to life improvement and then brings GDP growth.
Instead of openness to the global economy, Burma practised autarky and import substitution under a tyranny that shut itself off from the world.
Al-Shabaab justifies its brutal behavior with a deeply twisted ideology that combines a crude distortion of Islam with a Khmer Rouge-style embrace of radical agrarian-based autarky and murderous contempt for those with formal education.
Morcillo (history and women's studies, Florida International U.) explores the gender politics of Spain's Franco dictatorship, focusing on the interplay between the metaphorical use of gender imagery in the political discourse of the "nation" and the ways that attempts to discipline and control women's bodies were an essential part of the (Foucauldian) "bio-power" deployed by the Franco regime as Spain shifted from autarky to consumerism in the 1950s and 1960s.
Table 1 presents a comparison of the success of teams in improving over autarky. The United States was the larger country in every case.
This novel reading prompts scholars to look closer at how ideas and actors, not factor endowments (land, labor or capital) or structures, set countries on one of the three mutually exclusive international trajectories: membership in western international institutions, regionalism, or autarky.
Syria has moved from the stage of import to the stage of autarky and then to the stage of the export.
In order to derive the equilibrium under autarky, we need to know how agents make their occupational choice decisions.